Coreo AG — Share Issue/Capital Change 2009

Dec 8, 2009

News Details

Corporate | 8 December 2009 07:00

Nanostart further increases ownership of ItN Nanovation

Nanostart AG / Miscellaneous

08.12.2009

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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• Shareholding in portfolio company increased to 27.19 percent
• Turnaround of ItN Nanovation successful completed
• No remaining liabilities toward banks or lenders

Frankfurt - December 08, 2009 - Nanostart AG, the Frankfurt-based
nanotechnology investment company, is increasing its shareholding in ItN
Nanovation AG (ISIN DE000A0JL461 / WKN A0JL46), a cleantech innovator based
in Saarbrücken, Germany, from 26.5 percent to almost 27.2 percent.

Following the company's successful turnaround, ItN Nanovation has
repositioned itself and is rapidly moving forward with a highly focused
business model built around two key growth drivers: its patented
technology, and its new marketing strategy. The strategy under the
company's new senior management centers around international joint ventures
to execute specific projects under which ItN Nanovation provides its
know-how in the production of nanoceramics, while the project partner -
generally a major corporation - provides financial backing as well as
production and marketing resources. Several such major projects are already
in process, such as projects for seawater desalination in the Arabian
Peninsula and for the separation of oil-water mixtures in the production of
oil from tar sands in North America.

Marco Beckmann, CEO of Nanostart, commented on the increase in ownership:
'The availability of clean water is a global challenge which is becoming
critically important and for which the unique technology from ItN
Nanovation holds out reliable and effective solutions. Some very attractive
business opportunities have already come about as a result of this business
restructuring, and we regard our increase in shareholding as a superb
investment.'

The increase in shareholding is resulting from the issuance of new shares
against a contribution of capital in kind which was resolved by the
executive board of ItN Nanovation and approved by its supervisory board on
December 4. Under this transaction, secured loans in the amount of EUR 1.5
million, for the most part from Nanostart AG and a prominent business
family, will be contributed to the company, in exchange for which 462,961
new shares will be issued from approved capital, these having been valued
based on the prevailing market price. As a result of this exchange
transaction, ItN Nanovation AG will have a significantly stronger balance
sheet structure in that these liabilities will be converted into
shareholder equity. At the same time, by releasing the collateral securing
the loans, the debt exchange transaction has facilitated the seamless
transfer, as announced on December 2, of the company's production facility
in Halberstadt, Germany, which was sold to CWT Clean Tech AG. Through the
contribution of capital in kind, the company's registered capital will
increase to almost EUR 8.2 million. The transaction is expected to raise
the equity ratio on the company's balance sheet to approx. 50 percent,
while also eliminating annual interest expense of more than EUR 100,000.
Assuming that the capital increase is entered into the commercial register
before year end, ItN Nanovation AG will have no remaining liabilities
toward banks or other lenders.

About Nanostart:
Nanostart AG is the world's leading nanotechnology investment company. The
Frankfurt-based company provides venture capital financing for
nanotechnology companies in various growth phases. It also provides the
benefits of its experience and expertise to developers of financial
instruments and to investors in the nanotechnology sector. For further
information about the company, please visit www.nanostart.de.

About ItN Nanovation:
ItN Nanovation AG, founded in 2000, is one of the leading nanotechnology
companies in the world, developing innovative ceramic products, such as
filtration systems and coatings, for large industrial customers. The
nanoscale powder needed for those products is manufactured by the company
itself. The filtration products from ItN Nanovation can be used for
drinking water purification, waste water treatment, as beverage filters and
for the separation of oil and water. Ceramic coatings based on
nanotechnology are used in a variety of ways as protective and catalytic
coatings in various industries: from baking ovens to aluminum foundries to
coal-fired power plants. The company's success is founded on an extensive
product portfolio, combined with comprehensive development and application
know-how. For further information about the company, please visit
www.itn-nanovation.de.

Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of
offers to purchase or subscribe to securities. There will be no public
offering of securities of Nanostart AG in conjunction with the existing
listing of its shares in the 'Entry Standard' segment of the regulated
unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This
notice does not constitute a securities prospectus. Neither this notice nor
the information contained within is intended for direct or indirect
distribution within the United States of America, Canada, Australia or
Japan.

Media contact:
Nanostart AG
Public Relations
Dr. Hans Joachim Dürr
Goethestrasse 26-28
D-60313 Frankfurt
Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122
e-mail: presse@nanostart.de

08.12.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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